Interest payments to the US Debt

What does the interest paid each year on the US debt mean? Compare this feature to that of a household and a hypothetical household's debt load?

Solution Preview

Debt is the result of spending more than your income. Each year since 1969, Congress has incurred debt by spending more than the government takes in. Each year, therefore, the debt has grown. Debt results in interest payments, which is what the government pays its creditors. People expect a return on their money, so those who finance Federal debt through bonds are paid interest. The amount of this ...